Management

Tony Jensen,, President and Chief Executive Officer

Tony Jensen has over 30 years' mining industry experience and is President and Chief Executive Officer for Royal Gold, Inc. Prior to Royal Gold, Mr. Jensen was the Mine General Manager of the Cortez Joint Venture and spent 18 years with Placer Dome. Mr. Jensen's extensive background is anchored in operational experience gained in the United States and Chile where he occupied several senior management positions. This operational experience is balanced by corporate administrative, finance and business development experience in various roles with Placer Dome and Royal Gold.

Mr. Jensen holds a Bachelor of Science degree in Mining Engineering from South Dakota School of Mines and Technology and also holds a Certificate in Finance from Golden Gate University in San Francisco.

Stefan Wenger,, Chief Financial Officer and Treasurer

Stefan Wenger has over 20 years' experience in the mining and natural resources industries and is Chief Financial Officer and Treasurer of Royal Gold, Inc. Prior to Royal Gold, Inc., Mr. Wenger was an experienced audit manager with PricewaterhouseCoopers where he provided audit and business advisory services to the mining and oil and gas industries. Prior to that he was a manager with Arthur Andersen.

Mr. Wenger is a certified public accountant and a graduate of Colorado State University with a Bachelor of Science degree in Business Administration. He has completed the General Management Program at the Harvard Business School.

Karli Anderson,, Vice President Investor Relations

Karli Anderson has over 15 years’ experience in finance, investor relations and capital markets, and is Vice President Investor Relations of Royal Gold, Inc. Prior to Royal Gold, Ms. Anderson was Senior Director, Investor Relations for Newmont Mining Corporation, and held prior positions at Coeur d’Alene Mines Corporation and Evergreen Energy as Director, Investor Relations. Prior to that she held positions as a Director of Strategic Analysis with Policy Studies, Inc. and as an associate at Goldman Sachs Investment Research. She has overall responsibility for strategic planning, ongoing development and coordination of investor relation activities and external communications for the Company along with establishing and maintaining human resource policies and compensation programs.

Ms. Anderson holds an Master of Business Administration degree with a specialization in Finance from the Wharton School at the University of Pennsylvania and a Bachelor of Science degree in Telecommunications Systems from Ohio University.

William Heissenbuttel,, Vice President Corporate Development

William Heissenbuttel has more than 25 years of corporate finance that includes 20 years in project and corporate finance in the metals and mining industry. Mr. Heissenbuttel is Vice President Corporate Development for Royal Gold, Inc. Prior to Royal Gold, Mr. Heissenbuttel was employed in various capacities as the Senior Vice President at N M Rothschild & Sons, (Denver) Inc. and was responsible for the natural resources sector lending team for the Americas. Prior to joining Rothschild, Mr. Heissenbuttel was employed for five years at ABN AMRO Bank N.V. where he established their U.S. based mining project finance business.

Mr. Heissenbuttel holds a Master of Business Administration degree with a specialization in finance from the University of Chicago and a Bachelor of Arts degree in Political Science and Economics from Northwestern University.

Mark Isto,, Vice President Operations

Mark Isto has 34 years' international experience in mining engineering, mine management and project development, and is Vice President Operations for Royal Gold, Inc. Prior to Royal Gold, Mr. Isto served as Vice President Operations for First Nickel. From 2006 to 2012, he served at the Vice President and Senior Vice President levels in the Projects Group at Kinross Gold. He held numerous management positions in Placer Dome’s global operations including Mine General Manager, Chief Engineer, Mine Superintendent, Project Director and Senior Advisor over a career of nearly 25 year with Placer Dome.

Mr. Isto holds a Bachelor of Science degree in Mining Engineering from the Montana College of Mineral Science and Technology as well as a Master of Business Administration degree from the University of Nevada – Reno.

Bruce Kirchhoff,, Esq., Vice President, General Counsel and Secretary

Bruce Kirchhoff, Esq. has over 30 years' experience representing hardrock, industrial minerals, mining exploration and development companies, and is Vice President, General Counsel and Corporate Secretary for Royal Gold, Inc. Prior to Royal Gold Mr. Kirchhoff served as a partner with Carver Kirchhoff Schwarz McNab & Bailey, LLC (“CKSMB”) where he represented hardrock and industrial minerals clients as well as mineral exploration and development companies. Prior to CKSMB, Mr. Kirchhoff was a senior attorney with Cyprus Amax Minerals Company.

Mr. Kirchhoff holds a J.D. from the University of Denver, a Master of Science in Mineral Economics from Colorado School of Mines, and a Bachelor of Arts degree in Anthropology from Colorado College. He was an Adjunct Lecturer in Law at the University of Denver Sturm College of Law where he taught international mining law and policy.